It’s being reported that Obama is meeting with Senate leaders to negotiate spending cuts:
President Barack Obama is meeting Senate leaders negotiating on spending cuts and raising the US debt ceiling, as a deadline for action looms.
Mr Obama and Vice-President Joe Biden had what officials said was a “constructive” meeting with Senate Democratic Majority Leader Harry Reid.
Mr Obama was due to meet Republican leader Mitch McConnell later on Monday.
The problem lies in the fact that there seems to be only one person on Capitol Hill that has actual knowledge in economics and financing. Obama shouldn’t be talking to the Senate leaders but should be picking up the phone and calling Dr. Ron Paul who is one of the few members of our government that isn’t a complete Keynesian (and those are the fuckers who got us into this mess).
Unfortunately for those of us living in the United States Obama has decided to talk with Mitch McConnell who only seems capable for parroting the standard Republican party line:
The White House has said Republicans want to use the negotiations with the Obama administration to secure tax loopholes for corporations, tax breaks for the wealthy and subsidies for oil and gas firms.
“We have to have a balanced approach so that no sector of society, not the middle class, not seniors, not any one segment of the business community, has to bear any disproportionate burden,” Mr Carney told reporters on Monday.
This is what gets me about the Republican party, the often talk about things that sound somewhat libertarian on the surface but underneath they lack a true understanding of why libertarians express the beliefs they do. The majority of Republican also talk the big talk until it comes time to act, at which time they reveal their true colors as authoritarian Keynesian just like the Democrats (really there is no difference between the two parties).
Securing tax breaks isn’t going to fix the problem, we need to dramatically cut spending if we want any hope of keeping our inflated fiat currency from dropping in value fast enough to violate the theory of general relativity. Unfortunately the spending cuts must come from the political suicide sectors of Social Security, “defense” spending, and Medicare. Without cutting heavily from all three of these no major change will occur and our money will continue to inflate which will reduce the purchasing power of everybody who is dependent on our paper currency.
I also doubt the Republicans have the balls required to keep the debt ceiling where it’s at. At least if we did that it would force us to adopt a balanced budget for the year. But as usual there will be a back and forth between the Republicans and Democrats that will be little more than a pissing contest. After the pissing contest both sides will agree to compromise and raise the debt ceiling which will further increase our debt and fuck us over in the long run.